Domestic diesel demand is projected to rise from 1.8 million barrels per day (mbd) in 2023 to 2.3 mbd in 2030, an increase of 4.5% annually, IEA said in its India Oil Market Outlook. By comparison, petrol demand is estimated to rise a modest 0.7% every year to 1 mbd in 2030 from 0.9 mbd in 2023. For the last many years, diesel consumption has grown at a much slower pace than petrol as preference for petrol cars grew after deregulation eroded diesel's price advantage.